Monday, April 11, 2005

Norway will shut companies that refuse to recruit at least 40 percent women to their boards by 2007 under an unprecedented equality drive, a cabinet minister said on Tuesday. "Companies have been dragging their feet. They really have to recruit more women," Children and Family Affairs Minister Laila Daavoey told Reuters. "In the very worst case, they will face closure." Norway's parliament told firms in 2002 to ensure at least 40 percent of each sex in boardrooms by mid-2005 to force corporate leadership to match Nordic traditions of sex equality elsewhere in society. Daavoey, who oversees sex equality rules, said that all state-controlled firms including oil group Statoil and telecoms firm Telenor had already complied. "If we can recruit women to our state companies why can't private businesses do it too?" Daavoey said.